Search

Tikcro Technologies Reports First Quarter 2020 Results English English - PRNewswire

sisilihya.blogspot.com

HADERA, Israel, June 26, 2020 /PRNewswire/ -- Tikcro Technologies Ltd. (OTCQB: TIKRF), a pre-clinical stage developer of antibodies for cancer immune-therapy, today reported its financial results for the first quarter ended March 31, 2020.

"We are exploring strategic opportunities for our anti-CTLA-4 antibody, which shows strong comparative results in pre-clinical cancer treatment assays. We reduced our operating expenses and are also considering businesses for a reverse merger and other corporate alternatives," said Aviv Boim, CEO of Tikcro. 

Financial Results for the First Quarter Ended March 31, 2020
Net loss for the first quarter of 2020 was $96,000, or $0.01 per diluted share, compared to a net loss of $271,000, or $0.03 per diluted share, for the same period last year.

As of March 31, 2020, the company reported $4.3 million in cash, cash equivalents and short-term bank deposits.

Financial Results for the Fourth Quarter and Full Year Ended December 31, 2019
Net loss for the fourth quarter of 2019 was $173,000, or $0.02 per diluted share, compared to a net loss of $421,000, or $0.04 per diluted share, for the same period last year.

Net loss for the year ended December 31, 2019 was $929,000, or $0.09 per diluted share, compared to a net loss of $1,405,000, or $0.14 per diluted share, for the year ended December 31, 2018.

The company's audited financial statements for the year ended December 31, 2019 are included in its annual report on Form 20-F, which was filed with the Securities and Exchange Commission on June 1, 2020. Attached are the company's results for the three months ended December 31, 2019.

Results of the Extraordinary General Meeting of Shareholders
On March 12, 2020, the Company's shareholders duly approved the proposal on the agenda by the requisite majority, as described in the proxy statement dated February 6, 2020.

About Tikcro Technologies
Tikcro Technologies Ltd. (OTCQB: TIKRF) has developed certain antibodies selected and verified in pre-clinical trials with a focus on antibodies targeting immune modulator pathways for cancer treatment. For more information, visit Tikcro's website at www.tikcro.com.

Safe Harbor Statement
Certain of the statements contained herein may be considered forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to our ability to sell or license the rights to our CTLA-4 antibody on reasonable terms or at all, our ability to identify an attractive business for a reverse merger and, if we do, our ability to consummate the merger on reasonable terms. Such risks and uncertainties are set forth in the Company's SEC reports, including the Company's Form 20-F. Actual results may materially differ. Results of operations in any past period should not be considered indicative of the results to be expected for future periods.  We undertake no duty to update any forward-looking information.

Tikcro Technologies Ltd.

Condensed Balance Sheets

(US dollars in thousands)










March 31,
2020
Unaudited


December 31,
2019
Audited


Assets






Current assets






Cash, cash equivalents and short-term bank deposits

$

4,191


$

4,273



Restricted cash


81



83



Receivables and other financial asset

34


40



     Total current assets

4,306


4,396









Property and equipment, net

1


26











     Total assets

$

4,307


$

4,422








Liabilities and Shareholders' Equity







Current liabilities:






Other current liabilities

$

180


$

200










180


200









Shareholders' equity

4,127


4,222









Total liabilities and shareholders' equity

$

4,307


$

4,422
















Three Months Ended   
March   31, 




2020



2019







Research and development expenses

$

-


$

137







General and administrative expenses, net


111



146







Total operating expenses


111



283







Operating loss


(111)



(283)








Financial income, net


15



12








Net loss

$

(96)


$

(271)







Basic and diluted net loss per share

$

(0.01)


$

(0.03)













Weighted average number of shares used computing basic and diluted loss per share


9,879



9,879

Tikcro Technologies Ltd.

Statements of Operations

(US dollars in thousands, except per share data)






Three Months Ended
December 31,


Year Ended
 December 31 ,





2019


2018


2019


2018












Research and development Expenses

$

60

$

164

$

442

$

692












General and administrative expenses, net


148


283


581


766












Total operating expenses


208


447


1,023


1,458












Operating loss


(208)


(447)


(1,023)


(1,458)













Financial income, net


35


26


94


53













Net loss

$

(173)

$

(421)

$

(929)

$

(1,405)












Basic and diluted net loss per share

$

(0.02)

$

(0.04)

$

(0.09)

$

(0.14)






















Weighted average number of shares used computing basic and diluted loss per share


9,879


9,879


9,879


9,879

SOURCE Tikcro Technologies Ltd.

Related Links

http://www.tikcro.com

Let's block ads! (Why?)



"results" - Google News
June 26, 2020 at 07:47PM
https://ift.tt/385dwel

Tikcro Technologies Reports First Quarter 2020 Results English English - PRNewswire
"results" - Google News
https://ift.tt/2SvRPxx
https://ift.tt/2Wp5bNh

Bagikan Berita Ini

0 Response to "Tikcro Technologies Reports First Quarter 2020 Results English English - PRNewswire"

Post a Comment


Powered by Blogger.